Credit card spending authorization control system

Claim 1

A system for authorizing monetary transactions for the procurement of goods, services or distribution of currency using a credit or debit type transaction card while allowing an account holder to control spending by a card user using the transaction card by permitting the account holder to approve or refuse a spending amount exceeding a predetermined value, said system comprising: a card issued to a card user from a card issuer having a card number, the card number including an account number; wherein when the card user uses the issued card to procure goods or services from a merchant via a card transaction, the merchant seeks approval from the card issuer of the transaction; a central computer having a first database of card issuers; a first issuer computer having a second database of spending limits pre-approved by the account holder, a third database of spending limits pre-approved by the card issuer, and a fourth database of a contact method for contacting the account holder; wherein said central computer retrieves approval or refusal of the transaction from the first issuer computer, and wherein the refusal of a transaction is accompanied by the method for contacting the account holder; central computer contact means for contacting said account holder for approval or refusal of an increase in the procurement limit of the card user's card for the transaction; and wherein the central computer passes the account holder's approval or refusal of the pending transaction to the merchant.

Claim 2

A system for authorizing monetary transactions for the procurement of goods, services or distribution of currency using a credit or debit type transaction card while allowing an account holder to control spending by a card user using the transaction card by permitting the account holder to approve or refuse a spending amount exceeding a predetermined value, said system comprising: a card issued to a card user from a card issuer having a card number, the card number including an account number; wherein when the card user uses the issued card to procure goods or services from a merchant via a card transaction, the merchant seeks approval from the card issuer of the transaction; a central computer having a first database of card issuers; a first issuer computer having a second database of spending limits pre-approved by the account holder, a third database of spending limits pre-approved by the card issuer, and a fourth database of a contact method for contacting the account holder; wherein said central computer retrieves approval or refusal of the transaction from the first issuer computer, and wherein the refusal of a transaction is accompanied by the method for contacting the account holder; central computer contact means for contacting said account holder for approval or refusal of an increase in the procurement limit of the card user's card for the transaction; and wherein the central computer passes the account holder's approval or refusal of the pending transaction to the merchant.

Claim 11

A method for authorizing monetary transactions for the procurement of goods, services or distribution of currency using a credit or debit type transaction card while allowing an account holder to control spending by a card user, comprising the steps of: a) a merchant communicating a card number, account number and transaction information to a central computer; b) the central computer checks the transaction information and approves the transaction if the amount of the transaction is less than a pre-approved spending limit imposed by said account holder; c) if the transaction amount is greater than the pre-approved spending limit imposed by said account holder, the central computer initiates communications with said account holder; d) contacting said account holder using a 2-way communications device and notifying the account holder of the transaction information and amount and asking the account holder for approval or refusal of the transaction, said account holder transmitting transaction approval or refusal to the central computer; e) if the account holder approved the transaction, the central computer transmits an approval code to the merchant; and f) if the account holder refuses the transaction, the central computer transmits a refusal code to the merchant.

Claim 12

A method for authorizing monetary transactions for the procurement of goods, services or distribution of currency using a credit or debit type transaction card while allowing an account holder to control spending by a card user, comprising the steps of: a) a merchant communicating a card number, account number and transaction information to a central computer; b) the central computer checks the transaction information and approves the transaction if the amount of the transaction is less than a pre-approved spending limit imposed by said account holder; c) if the transaction amount is greater than the pre-approved spending limit imposed by said account holder, the central computer initiates communications with said account holder; d) contacting said account holder using a 2-way communications device and notifying the account holder of the transaction information and amount and asking the account holder for approval or refusal of the transaction, said account holder transmitting transaction approval or refusal to the central computer; e) if the account holder approved the transaction, the central computer transmits an approval code to the merchant; and f) if the account holder refuses the transaction, the central computer transmits a refusal code to the merchant.

Claim 14

A method for authorizing monetary transactions for the procurement of goods, services or distribution of currency using a credit or debit type transaction card while allowing an account holder to control spending by a card user using the credit or debit type transaction card by requiring the account holder to authorize a spending amount exceeding a predetermined value comprising the following steps: a merchant enters a card number from the credit or debit type transaction card and a transaction amount into a communications device which transmits the card number and transaction amount to a central computer; a central computer comprising a database having a first field for the card number and a second field for a parent controlled spending limit receives the merchant transmitted card number and transaction amount information and retransmits this information to an issuer computer; the issuer computer, having a second database of spending limits pre-approved by the account holder, a third database of spending limits pre-approved by the card issuer, and a fourth database of a contact method for contacting the account holder receives the card number and transaction information and compares the received information to the database limits, resulting in one of the following: 1) if the received transaction amount is below the pre-approved spending limit, the issuer computer transmits an approval code to the central computer, or 2) if the received transaction amount is greater than the pre-approved spending limit for the ancillary card and less than the pre-approved spending limit for the account holder, the issuer computer transmits an approval code and account holder notification information to the central computer, or 3) if the received transaction amount is greater than the pre-approved spending limit for the account holder account, the issuer computer transmits a transaction refusal code to the central computer; the central computer receives the transaction approval or transaction refusal from the issuer computer and either 1) forwards the approval code to the merchant if the transaction amount is below the pre-approved account holder limit, or 2) forwards the refusal code to the merchant if the transaction amount is greater than the pre-approved account holder's account limit, or 3) contacts the account holder using two-way communications devices, informing the account holder that the spending limit for the card user has been reached and asking the account holder whether the card user's spending limit can be increased and to what level; and if the account holder chooses to increase the spending limit, the central computer transmits the transaction approval code to the merchant, however, if the card holder refuses an increased amount for the transaction, the central computer transmits a refusal code to the merchant.

Claim 15

A method for authorizing monetary transactions for the procurement of goods, services or distribution of currency using a credit or debit type transaction card while allowing an account holder to control spending by a card user using the credit or debit type transaction card by requiring the account holder to authorize a spending amount exceeding a predetermined value comprising the following steps: a merchant enters a card number from the credit or debit type transaction card and a transaction amount into a communications device which transmits the card number and transaction amount to a central computer; a central computer comprising a database having a first field for the card number and a second field for a parent controlled spending limit receives the merchant transmitted card number and transaction amount information and retransmits this information to an issuer computer; the issuer computer, having a second database of spending limits pre-approved by the account holder, a third database of spending limits pre-approved by the card issuer, and a fourth database of a contact method for contacting the account holder receives the card number and transaction information and compares the received information to the database limits, resulting in one of the following: 1) if the received transaction amount is below the pre-approved spending limit, the issuer computer transmits an approval code to the central computer, or 2) if the received transaction amount is greater than the pre-approved spending limit for the ancillary card and less than the pre-approved spending limit for the account holder, the issuer computer transmits an approval code and account holder notification information to the central computer, or 3) if the received transaction amount is greater than the pre-approved spending limit for the account holder account, the issuer computer transmits a transaction refusal code to the central computer; the central computer receives the transaction approval or transaction refusal from the issuer computer and either 1) forwards the approval code to the merchant if the transaction amount is below the pre-approved account holder limit, or 2) forwards the refusal code to the merchant if the transaction amount is greater than the pre-approved account holder's account limit, or 3) contacts the account holder using two-way communications devices, informing the account holder that the spending limit for the card user has been reached and asking the account holder whether the card user's spending limit can be increased and to what level; and if the account holder chooses to increase the spending limit, the central computer transmits the transaction approval code to the merchant, however, if the card holder refuses an increased amount for the transaction, the central computer transmits a refusal code to the merchant.

Claim 20

A system for authorizing monetary transactions for the procurement of goods, services or distribution of currency using a credit or debit type transaction card while allowing an account holder to control spending by a card user using the transaction card by permitting the account holder to approve or refuse a spending amount exceeding a predetermined value, the system comprising: a card issued to a card user from a card issuer having a card number, the card number including an account number; wherein when the card user uses the issued card to procure goods or services from a merchant via a card transaction, the merchant seeks approval from the card issuer of the transaction; a central computer having a first database of card issuers, a second database of spending limits pre-approved by the account holder, and a third database of a contact method for contacting the account holder; a first issuer computer having a fourth database of account spending limits pre-approved by the card issuer; wherein said central computer retrieves approval or refusal of the transaction from the first issuer computer; central computer contact means for contacting said account holder for approval or denial of the transaction; and wherein the first central computer passes the account holder approval or refusal of the transaction to the merchant.

Claim 21

A system for authorizing monetary transactions for the procurement of goods, services or distribution of currency using a credit or debit type transaction card while allowing an account holder to control spending by a card user using the transaction card by permitting the account holder to approve or refuse a spending amount exceeding a predetermined value, the system comprising: a card issued to a card user from a card issuer having a card number, the card number including an account number; wherein when the card user uses the issued card to procure goods or services from a merchant via a card transaction, the merchant seeks approval from the card issuer of the transaction; a central computer having a first database of card issuers, a second database of spending limits pre-approved by the account holder, and a third database of a contact method for contacting the account holder; a first issuer computer having a fourth database of account spending limits pre-approved by the card issuer; wherein said central computer retrieves approval or refusal of the transaction from the first issuer computer; central computer contact means for contacting said account holder for approval or denial of the transaction; and wherein the first central computer passes the account holder approval or refusal of the transaction to the merchant.